Error message

  • Warning: date_timezone_set() expects parameter 1 to be DateTime, boolean given in format_date() (line 1937 of /htdocs/www/includes/common.inc).
  • Warning: date_format() expects parameter 1 to be DateTime, boolean given in format_date() (line 1947 of /htdocs/www/includes/common.inc).
  • Warning: date_timezone_set() expects parameter 1 to be DateTime, boolean given in format_date() (line 1937 of /htdocs/www/includes/common.inc).
  • Warning: date_format() expects parameter 1 to be DateTime, boolean given in format_date() (line 1947 of /htdocs/www/includes/common.inc).

Breaking Stock Market and Financial News

American Eagle Outfitters shares soar after earnings, revenue beat estimates

MarketWatch Market Pulse - Wed, 08/23/2017 - 08:14

American Eagle Outfitters Inc. shares soared 11.4% in Wednesday premarket trading after the clothing retailer reported second-quarter earnings and revenue that beat estimates. The company's net income was $21.2 million, or 12 cents per share, down from $41.6 million, or 23 cents per share, for the same period last year. Adjusted EPS was 19 cents, beating the 16-cent FactSet consensus. Revenue totaled $844.6 million for the quarter, up from $822.6 million and exceeding the $824.0 million FactSet consensus. Same-store sales rose 2%, ahead of the FactSet estimate for a 0.4% decline. American Eagle sees third-quarter same-store sales in the range of flat to up low single digits and EPS of 36 cents to 38 cents. The FactSet consensus is for a same-store sales increase of 0.8% and EPS of 38 cents. American Eagle shares are down 26.1% for the year so far while the S&P 500 index is up 9.5% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Drowning in debt, Connecticut faces budget crunch

Top Reuters News - Wed, 08/23/2017 - 08:02
HARTFORD (Reuters) - Connecticut, home to hedge fund billionaires alongside cities mired in poverty, is racing against the clock to pass a budget or face further spending cuts to education and municipal aid across the state.

Express beats profit and sales estimates as e-commerce grows 28%

MarketWatch Market Pulse - Wed, 08/23/2017 - 07:12

Express Inc. shares soared 11% in premarket trade Wednesday, after the company topped second-quarter earnings estimates. The apparel retailer said it had a net loss of $11.8 million, or 15 cents a share, in the second quarter, after net income of $10.1 million, or 13 cents a share, in the year-earlier period. Adjusted per-share earnings came to 1 cent, better than the FactSet consensus for a loss of 1 cent. Sales fell to $478.5 million from $504.8 million, but were ahead of the FactSet consensus of $474 million. Same-store sales fell 4%, but were better than the FactSet consensus for a decline of 5.2%. "Comparable sales and earnings were at the top end of our guidance, as our key initiatives gained further traction," Chief Executive David Kornberg said in a statement. The company's e-commerce sales rose 28%, while store comps delivered sequential improvement, he said. The company is now expecting third-quarter same-store sales to be down in the low single digits and for EPS to range from 6 cents to 10 cents. The FactSet consensus is for third-quarter same-store sales to fall 1.8% and for EPS of 11 cents. Shares are down 49% in 2017, while the S&P 500 has gained 9.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Lowe's quarterly earnings, sales below Wall Street's forecasts

MarketWatch Market Pulse - Wed, 08/23/2017 - 06:33

Lowe's Cos. on Wednesday posted quarterly revenue and adjusted earnings that fell short of Wall Street's targets. The home-improvement retailer said second-quarter net earnings came in at $1.42 billion, or $1.68 a share, compared with $1.17 billion, or $1.31 a share, a year ago. Adjusted earnings were $1.57 a share for the most recent period, missing the FactSet consensus estimate of $1.62 a share. Sales at Lowe's rose to $19.49 billion from $18.26 billion in the year-earlier quarter, but that was below the $19.55 billion forecast from analysts. Lowe's shares were down 6% in premarket trade following the results.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Pakistan says U.S. must not make it a 'scapegoat' for Afghan failures

Top Reuters News - Wed, 08/23/2017 - 06:32
KARACHI, Pakistan (Reuters) - Pakistan rejected on Wednesday U.S. criticism of its efforts to fight terrorism saying it should not be used as a scapegoat for the failure of the U.S. military to win the war in Afghanistan.

True price of an Uber ride in question as investors assess firm's value

Top Reuters News - Wed, 08/23/2017 - 06:16
SAN FRANCISCO (Reuters) - What is the true cost of an Uber ride?

Egypt cancels Kushner meeting with minister after denial of aid

Top Reuters News - Wed, 08/23/2017 - 06:14
CAIRO (Reuters) - Egypt called off a scheduled meeting between its foreign minister and top U.S. presidential adviser Jared Kushner on Wednesday after the United States decided to withhold millions of dollars in aid.

Merkel assuming leadership role in world of erratic strongmen

Top Reuters News - Wed, 08/23/2017 - 05:07
BERLIN (Reuters) - Alarmed by the rise of unpredictable strongmen around the world, Angela Merkel feels she must do more to defend the Western order on which Germany depends.

Hong Kong braces for severe typhoon; stock market closed

MarketWatch Market Pulse - Wed, 08/23/2017 - 04:04

Hong Kong's Hang Seng stock exchange was closed for trade on Wednesday, as a severe typhoon slammed into the area, with wind gusts of around 130 miles an hour. Typhoon Hato, the first category 10 storm to hit the island state since 2012, forced schools, government offices and businesses to shut down, while also leaving more than 400 flights cancelled out of Hong Kong airport. The category 10 warning signal for typhoons has only been used 14 other times since 1946, according to media reports. Hato came within 37 miles of Hong Kong, but a direct hit to the main island was not expected. The typhoon is expected to make landfall in China's Guangdong province.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Pages